Difference Between Managerial Accounting And Financial...

Alston Manufacturing has very unique products, but none of the various owners throughout this case place enough emphasis on the key success factors to creating valuable products. These key factors are cost and efficiency, quality, time, and innovation (Datar, Horngren, Rajan, 2012). The original owners of Alston along with Jeff, the second owner, fail to place enough importance on the cost and efficiency of operations. Joe, who purchased the right to produce a product Alston could not produce efficiently, also exhibited some of the same issues. To be specific, he failed to realize the importance of cost, efficiency and the quality of his product as well. The case of Alston Manufacturing illustrates how damaging it can be to a company when information presented does not remain true to the conceptual framework of accounting. This paper will discuss all of the various owners, their key decisions, and how those decisions affected others. Before we discuss this in further detail, it is important to explain the difference between managerial accounting and financial accounting, as both will be used explain information relevant to Alston. â€Å"Managerial accounting measures, analyzes, and reports financial and nonfinancial information that helps managers make decisions to fulfill the goals of an organization.† (Datar, Horngren, Rajan, 2012, p. 4) It is a type of accounting that helps managers decrease costs, improve processes, and increase profit. Financial accounting’s goal is muchShow MoreRelatedDifference between Financial and Managerial Accounting 637 Words   |  3 PagesThe primary difference between financial and managerial accounting is that financial accounting is used for external members of the company; they do not control or run the businesses’ operations. An example of external members would be customers and shareholders of the business. On the other hand, managerial accounting is used for internal members in the company such as managers and officers. The internal members use managerial accounting to increase efficiency and effectiveness within their companyRead MoreThe Differences Between Financial And Managerial Accounting1320 Words   |  6 Pagesorganization may be a part of, accounting plays a vital role in everyday decision making. Without the field of accounting, companies and organizations would not be nearly as efficient, productive and successful as they are today. Accounting serves many purposes for an organization, whether it is financial or managerial. But, not all forms of accounting are the same. With that being said, to better understand the differences between financial and managerial accounting, it is important to first knowRead MoreDifference Between Managerial And Financial Accounting1216 Words   |  5 PagesQuestion 1 The main difference between managerial and financial accounting is who the end-users are. Financial accounting is concerned with producing information for external users based on historical data. External users for financial accounting would include investors, creditors, and government agencies among others. Financial accounting must also adhere to strict rules that have been put in place to monitor the financial documents that are created within it. These policies are enforced and monitoredRead MoreDifference Between Financial And Managerial Accounting931 Words   |  4 Pages The similarity and differences between financial and managerial accounting, Management accounting is only used for internal operations and the financial is more external which is the overall financial picture and data collected by an organization that may have accountability towards the public, IRS and partners. Both are similar functions, but one is perhaps more in depth. The Target company purpose is design the show, review the project, inputs and outputs, expenses, and review all necessaryRead MoreManagerial Accounting And The Certified Management1408 Words   |  6 PagesManagerial accounting is used by an organization to ensure informed decisions are made regarding current and future operations. Businessmen and women must have the ability to comprehend financial information provided to properly determine the correct course of action. In the global market of today, an organization’s inability to accurately determine the best course of action can lead to financial ruin for the company. Uninformed decisions by leadership can derail a business’ prospects for successRead MoreManagerial Accounting1152 Words   |  5 PagesManagerial Accounting 12/3/15 Managerial Accounting Accounting is a crucial part in running a business. There are various forms of accounting that can be used, it is very important to know which technique is best to use for what companies. Once you figure out a particular technique to use, it is important to keep an open mind if there are any changes that need to take place in the business. By keeping an open mind helps the business adjust and be able to make the right decisions. Every businessRead MoreRole Of Managerial And Managerial Accounting1029 Words   |  5 PagesThe role of managerial accounting has played a significant role in the success of businesses dating as far back as the 19th century. Service and production operations during the days of the industrial revolution were not nearly as sophisticated then as they are today. The current initial purpose of managerial accounting is comparable to its purpose throughout history. Managerial accounting has historically been useful in assisting managers with the information th ey need to make important decisionsRead MoreEssay On The Most Valuable Things Learned1018 Words   |  5 PagesMost Valuable Things Learned Some of the most profitable things for me is that in learning about utilization and financial statements is to consider the usage for fiscal explanations to examine and getting an understanding of how the firm incorporates those offers data over Comprehension of those executions of the firm. The financial clear information very detailed analysis of an idea that will be critical similarly as it gives serious data of the shareholders in taking such choices. FurthermoreRead MoreManagerial and Financial Accounting1235 Words   |  5 Pagesï » ¿Part 1 Managerial and Financial Accounting: Key Differences Several differences exist between the above branches of accounting. To begin with, when it comes to financial accounting, the financial reports prepared are primarily utilized by external users including but not limited to regulators, creditors and stockholders (Weygandt, Kimmel and Kieso, 2009). On the other hand, managerial accounting reports are primarily meant for internal users i.e. managers and other officers of the firm. TheseRead MoreSample Resume : Managerial Accounting1411 Words   |  6 Pages MASTERS IN PROFESSIONAL ACCOUNTANCY STUDENT NAME : Shilpa Thakran STUDENT ID : 17909848 UNIT NUMBER : 530 REPORT : MANAGERIAL ACCOUNTING TUTOR NAME : CHEOW WING WONG DUE DATE : September 12, 2014 TABLE OF CONTENT INTRODUCTION†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.3 1.0 PRODUCT COSTING†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 1.1 JUST IN TIME

Case Study 1 Trader Joe s Keeping a Cool Edge 1 - 1936 Words

Case Study 1 Trader Joe’s Keeping a Cool Edge The average Trader Joe’s stocks only a small percentage of the products of local supermarkets in a space little larger than a corner store. How did this neighborhood market grow to earnings of $9 billion, garner superior ratings, and become a model of management? Take a walk down the aisles of Trader Joe’s and learn how sharp attention to the fundamentals of retail management made this chain more than the average Joe. From Corner Store to Foodie Mecca In more than 365 stores across the United States, hundreds of thousands of customers are treasure hunting.1 Driven by gourmet tastes but hungering for deals, they are led by cheerful guides in Hawaiian shirts who point them to culinary†¦show more content†¦Recent annual sales are estimated at $9 billion, landing Trader Joe’s in the top third of Supermarket News’s Top 75 Retailers.12 Because it’s not easy competing with such giants as Whole Foods and Dean DeLuca, the company applies its pursuit of value to every facet of management. By keeping stores comparatively small—they average about 10–15,000 square feet—and shying away from prime locations, Trader Joe’s keeps real estate costs down.13 The chain prides itself on its thriftiness and cost-saving measures, proclaiming, â€Å"Every penny we save is a penny you save† and â€Å"Our CEO doesn’t even have a secretary.†14,15 Trader Giotto, Trader Josà ©, Trader Ming, and Trader Darwin Trader Joe’s strongest weapon in the ï ¬ ght to keep costs low may also be its greatest appeal to customers: its stock. The company follows a deliciously simple approach to stocking stores: (1) search out tasty, unusual foods from all around the world; (2) contract directly with manufacturers; (3) label each product under one of several catchy house brands; and (4) maintain a small stock, making each product ï ¬ ght for its place on the shelf. This commonsense, low-overhead approach to retail serves Trader Joe’s well, embodying its commitment to aggressive cost-cutting. Most Trader Joe’s products are sold under a variant of their house brand—dried pasta under the â€Å"Trader Giotto’s† moniker, frozen enchiladas under the â€Å"Trader Jose’s† label, vitamins under â€Å"Trader Darwin’s,† andShow MoreRelatedRed Bull Marketing Plan7856 Words   |  32 PagesBut last week the end-of-year gloom was lifted by the arrival of a most unlikely new inhabitant. A bronzed and energetic Austrian, who has made a billion-pound fortune selling a drink that looks and tastes like medicine has just become the town s biggest private investor. Dietrich Mateschitz, 60, the owner of Red Bull, spent more than  £60m buying up the Jaguar Formula One racing team. The thundering bull logo and Red Bull gives you wings advertising slogan will replace the Jaguar logo onRead MoreVarian Solution153645 Words   |  615 PagesChapter 1 NAME The Market Introduction. The problems in this chapter examine some variations on the apartment market described in the text. 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Two Gentlemen in Verona Free Essays

The Abasement of The Upper Class Most people have a predetermined idea of the levels of a social hierarchy. They presume that the upper class is noble, proper and educated while the lower class is of the opposite; the lower class work for the upper class and thus cannot possibly exceed the caliber of the upper class. Shakespeare upends this predetermined notion by utilizing the characters to convey a strong sense of role reversal throughout The Two Gentlemen of Verona. We will write a custom essay sample on Two Gentlemen in Verona or any similar topic only for you Order Now This role reversal upsets the stereotypical social hierarchy and strongly suggests that the upper class may not be as highly esteemed as they are perceived to be. Loyalty is an underlying theme throughout the play. Symbols of loyalty prompt the reader to not only compare the loyalty of a servant’s relationship with an upperclassman’s relationship but also conclude that this comparison often leads to the degradation of the upper class characters. Proteus refers to himself as â€Å"spaniel-like† (4. 2. 4) in Act 4; however his actions show that he is the direct opposite of what a spaniel, or a dog, should be like. Judging from his fickle actions of suddenly falling in love with Silvia after swearing to remain faithful to Julia, Proteus is unable to have nearly as much loyalty as a spaniel should have. Thus one can conclude that Proteus is not nearly as loyal as a dog. His condemnable actions lead to an abasement of the upper class and gives way to the idea that the aristocratic aren’t as respectable as they seem to be. The relationship between Lance and Crab can be compared to Proteus and Julia. Lance, the servant has an unusually loyal and selfless relationship with his dog, Crab. It is interesting to note that Lance seems to be more loyal or devoted to Crab, than his dog is to him. In fact, Lance even takes the blame and beating for his dog when Crab his caught â€Å"a pissing† (4. 4. 1) under the table. This loyalty can be compared to Proteus and Julia in that Lance’s selflessly devoted relationship with Crab is a parody of the despicably unfaithful relationship Proteus has with Julia. The â€Å"reversed† relationship between Lance and Crab also gives way to a new and important idea for the rest of the play. Upon closer inspection, one can see that the master, in this case Lance resembles the characteristics of a loyal servant, which should be the role played by Lance’s dog, Crab. The unusual reversal of roles that this master and its dog should have, gives way to a recurring idea – prominent throughout the rest of the play, that the characteristics of the lower class and upper class are interchanged. Speed and Lance are two servants who happen to be servants of two deeply in-love masters. In Act 3 Scene 1, Lance claims that he too, is in love and reveals a list of which he has written down the merits of his lady. Typically, one should assume that this list – coming from an uneducated servant, should not exhibit a great amount of depth or critical thinking; however this list surprises the reader in its logicality and wittiness, and in addition, reinforces the idea of the switching of hierarchal roles. Items on Lance’s list exhibit great practicality such as â€Å"She can sew† (3. . 298) and â€Å"She can wash and scour† (3. 1. 329). Lance also cleverly transforms flaws into virtues when he describes that â€Å"She hath more hair than wit,† or that she is younger than she is intelligent and â€Å"more fault than hairs,† or more flaws than she is young and â€Å"more wealth than faults† (3. 3. 3) which amalgamates to that she is wealt hier than flawed since â€Å"that word (wealth) makes the faults gracious† because Lance understands that in real life, level of wealth is a highly influential, and possibly ultimate deciding factor in marriage or a relationship. The realistic and practical nature of the list shows the maturity and intelligence of Lance, which begs to question the nature of the picturesque but fickle and unsustainable nature of the love affairs of the masters, Valentine and Proteus. This once again reiterates the role reversal of social hierarchy and through the sensibleness of Lance and shows that the upper class may not be as intellectual as they are perceived to be. There are also other smaller remarks in scenes that support the notion that a role reversal suggests the idea that aristocrats may not be as intellectual as them seem to be. For example, in Act 2 Scene 1, when Valentine is reunited with his love, Silvia – Speed provides several asides in which he mockingly says â€Å"a million of manners! † (2. 1. 95) in response to Valentine greeting Silvia with â€Å"a thousand good morrows† (2. 1. 93-4). In this series of asides, the audience can see that the servant is sensibly belittling the absurdity of his master’s love for Silvia. An encounter in Act 3 Scene 1 between the Duke and Valentine also pokes at a role reversal when the Duke, perhaps the character with the highest social class throughout the novel, seeks advice on how to â€Å"court† (3. . 85) his lover, from Valentine: a relatively subordinate character. It is arguable that the Duke only asked Valentine for advice as a part of his scheme to figure out how Valentine has been courting his own daughter, Silvia. However, if one looks at the scene and context secluded from the ulterior intentions, the mere act of a superior asking an inferior for advice heavily suggests that the role reversal of characters in The Two Gentlemen of Verona and ultimately, that the aristocratic, or Duke, is not as almighty and wise as he is assumed to be. Finally, perhaps the most prominent manifestation of role reversal and the abasement of aristocrats lies in the exchange between Valentine and Speed. Throughout the beginning half of the play, Valentine disapproves Proteus’s love for Julia and claims that by staying at home with Julia, Proteus will have â€Å"homely wits† (1. 1. 2) and wear out his â€Å"youth with shapeless idleness† (1. 1. 8). However during Act 2 Scene 1, Valentine is criticized by Speed, for the negative effects that he has brought upon himself as a result of his love for Silvia. Speed not only brings attention to the fact that only recently did Valentine â€Å"chid[e] at Sir Proteus for going ungartered† (2. 1. 70) but also has somewhat become blinded by love. During Speed’s observation of Valentine’s state in Act 2 Scene 1, Speed condemns Valentine who now â€Å"walk[s] alone like one that had the pestilence† (2. 1. 21) as a result of being in love with Silvia, when Valentine used to â€Å"walk like one of the lions† (2. 1. 27). As a result of being â€Å"metamorphosed with a mistress† (2. 1. 29-30), when Speed â€Å"look on you [Valentine], I [Speed] can hardly think you my master† (2. . 30-1). This exchange radiates the idea that Speed sees things that Valentine is unable to as well as the idea that Speed is wiser and more intellectual than his superior, Valentine. The latter part of the scene where Speed claims that Valentine’s lover, Silvia, is actually â€Å"not so fair†(2. 1. 51) accentuat es both Speed’s expert and knowledgeable as well as Valentine’s increasingly dull and inferior characters. When Valentine questions Speed’s observation of Silvia’s beauty, Speed cleverly notes that â€Å"Because Love is blind† (2. 1. 8), Valentine is unable to see the ugliness of Silvia. In this brief exchange, Valentine and Speed play instead, the inferior and superior roles respectively as Speed lectures Valentine on this love-blind issue. Valentine’s aristocratic character is degraded as Speed didactically enlightens Valentine on the effects of love that he is unable to see. It is questionable that because a big portion of Shakespeare’s audience was of middle and lower class, he conveyed a sense of abasement of the upper class in The Two Gentlemen of Verona. Thus it can be argued that he utilized this theme as a way to provide pleasure for the audience of his work. Nonetheless, through the various exchanges between master and servant, and servant to servant, one can see that the stereotypical roles of the characters are not congruent with their actual characteristics. Lance’s relationship with his dog both parodies Proteus and Julia and allows the theme of role reversal to manifest itself in their unusual relationship. Lance’s practical list of merits provides a sense of integrity and high intellectual capability for other members of the lower class. The Duke and Valentine suggests a role reversal and finally, Speed’s didactic observation of Valentine’s chronic â€Å"love blindness† allows the audience to see the dullness of the upper class and quick wit of lower class. All these examples amalgamate to a reinforced idea that the roles of the upper class and lower class may be reversed and that the upper class are not nearly as intelligent and esteemed as they are perceived to be. How to cite Two Gentlemen in Verona, Essay examples

Suit free essay sample

Last fall, the Band-Aid wearing hip-hop superstar Nelly dropped two albums on that same day, â€Å"Suit† and â€Å"Sweat.† Both received the highest ratings, following the paths of his previous two albums, â€Å"Country Grammar† and â€Å"Nellyville.† Of the two, â€Å"Suit,† which is more RB-themed than â€Å"Sweat,† is just a tad better. At first, â€Å"Suit† does not seem too amazing, but after listening a few times, it gets much better. Nelly has now lost the Band-Aid, a symbol for his brother in prison, but has kept everything else intact. Each and every song is great to get you moving. Even on the slowest tracks, the melodies are so well produced that one cannot help but sing along. Although he could have, Nelly did not do the whole album by himself. He has incorporated many styles, featuring Jaheim (a softer artist similar to Tyrese); Anthony Hamilton, who many may remember from the popular â€Å"Chappelle’s Show,† Snoop Dogg, one of the greatest of the hip-hop industry, and even country music’s Tim McGraw, a surprise to many. We will write a custom essay sample on Suit or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Even more surprising is that â€Å"Over and Over† with McGraw is doing extremely well. The best aspect of â€Å"Suit† is that every song is built from the ground up for greatness; there are no filler songs. This CD will probably go over best with women because of its slower vibe, but every song is so well done that it can be enjoyed by anyone who wants to hear amazing tracks. Some may be disappointed with its length, but keep in mind that â€Å"the mayor of Nellyville† made two albums, so he is certainly not lazy. The explicit lyrics are kept to a minimum, but he also offers an edited version. Other than that, I see no reason not to buy this CD. Just like his past works, this is a must-have.